Independence Bank of Kentucky Sells 185 Shares of International Business Machines Co. (NYSE:IBM)

Independence Bank of Kentucky cut its position in International Business Machines Co. (NYSE:IBM) by 3.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,345 shares of the technology company’s stock after selling 185 shares during the period. Independence Bank of Kentucky’s holdings in International Business Machines were worth $1,175,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ellenbecker Investment Group raised its holdings in shares of International Business Machines by 2.3% during the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock valued at $453,000 after buying an additional 46 shares in the last quarter. First Affirmative Financial Network increased its stake in International Business Machines by 1.5% in the 4th quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company’s stock worth $687,000 after purchasing an additional 46 shares during the period. Goldstein Advisors LLC increased its stake in shares of International Business Machines by 4.0% in the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after buying an additional 47 shares during the period. Vertex Planning Partners LLC boosted its position in International Business Machines by 3.6% during the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after buying an additional 47 shares during the period. Finally, Forza Wealth Management LLC increased its position in shares of International Business Machines by 0.4% in the fourth quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock valued at $2,891,000 after acquiring an additional 47 shares during the period. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Down 1.1 %

Shares of NYSE:IBM opened at $255.48 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a fifty day simple moving average of $226.61 and a two-hundred day simple moving average of $214.36. International Business Machines Co. has a 12-month low of $162.62 and a 12-month high of $261.80. The stock has a market capitalization of $236.23 billion, a price-to-earnings ratio of 39.86, a PEG ratio of 4.25 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 40.37% and a net margin of 9.60%. On average, research analysts anticipate that International Business Machines Co. will post 10.54 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is currently 104.21%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on IBM shares. Stifel Nicolaus increased their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Jefferies Financial Group lifted their price objective on International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday. Morgan Stanley raised their price target on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday. UBS Group boosted their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $225.53.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by insiders.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.